New Delhi: Investors can get higher Fixed Deposit (FD) interest rates with top-rated Non-Banking Finance Companies (NBFCs) in the country. The interest rates given by NBFCs on term deposits are higher than bank FDs. The only thing investors should consider while they look to open an FD with any of the NBFCs is the ratings given by credit rating agencies like Icra, Crisil, India Ratings and Research, etc. Generally, fixed deposits of NBFCs with A+ or higher rating is advisable. One such financial institution which has secured top ratings from the credit rating agencies is Shriram Finance. The Chennai-based NBFC enjoys AA+ ratings from Icra and India Ratings. Let’s see how much interest rates depositors can get on Shriram Finance FDs:
Shriram Finance FD rates for senior citizens
Currently, senior citizens get an additional of 0.50 per cent rate of interest over and above applicable rates on fixed deposits with the AA+ rated NBFC, Shriram Finance. On top of this, depositors of aged 60 years and above get 0.75 per cent additional interest rate on those FDs which they would renew. And, women depositors who are aged 60 years and above, are entitled to get 0.85 per cent additional rate on renewables.
Shriram Finance FD rates for 1 year
Shriram Finance FD rate for 1 year tenure is 7.85 per cent for general citizens, while the senior citizens get 8.35 per cent. Depositors get 8.15 per cent for opening fixed deposit of tenure 2 years or 24 months.
Shriram Finance FD rates for 5 years
On 5 year FDs, general citizens are currently getting 8.80 per cent interest, while senior citizens get rate of interest of 9.30 per cent on this term deposit. Women senior citizens are entitled to get 9.40 per cent on 5-year term deposit. Similar rates are available on Shriram Finance’s fixed deposits of 50 months tenure. These are the highest rate that depositors can get on corporate FD with the financial institution.
Shriram Finance FD Rates 2024
Period (Months)
Yearly % p.a. (General Citizens)
12
7.85
15
8.15
18
8
24
8.15
30
8.35
36
8.7
42
8.75
50
8.8
60
8.8
Shriram Finance fixed deposit rate: Senior citizens can earn up to 9.40 per cent on select FD scheme. Shriram Finance is AA+ rated NBFC. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
